Hankook Tire Records 6.4 % of Growth in Ultra High Performance Tire Sales Fourth Quarter of 2015
- Company announced sales revenues of 1.87 billion CAD and an operating profit of 276.1 million CAD in the fourth quarter of 2015
- Ultra High Performance (UHP) Tire segment increased by 6.4%, accounting for 33% of the company’s overall revenue
BRAMPTON, ON, February 5h, 2016 – Hankook Tire announced financial results for the fourth quarter of 2015 today. The company reported global consolidated quarterly revenue of 1.87 billion CAD and an operating profit of 276.1 million CAD.
Hankook Tire secured an overall sales and operating profits that was on par compared with the same period last year. Despite sluggish global economy, the company has generated positive sales growth in the Ultra High Performance (UHP) tire segment, increased by 6.4 per cent (compared with the same period last year). The UHP Tire segment accounts for 33 per cent of the Hankook Tire’s overall revenue.
Especially, increased sales in North America contributed to Hankook Tire’s overall revenue showing 20 per cent growth followed by an increase in the UHP Tire segment of 29 per cent year-on-year respectively. The company’s UHP Tire sales in North America accounted for 33.3 per cent of total revenue. With the steady positive growth, Hankook Tire expects to reinforce its competitiveness in the UHP Tire segment as it is important as a source of profit and creation of new technology.
The company will further enhance its presence in North America and Europe, and focus on sales expansion for UHP Tire and SUV segments. In addition, Hankook Tire will continue to make stable growth with optimized global network and solidify itself as a global top-tier tire company by diversifying its premium model portfolio among its OE business.
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Q4 2015 Consolidated Financial Result
|(Unit: Billion KRW)||Q4 FY 2014||Q3 FY 2015||Q4 FY 2015|
|(Unit: Million CAD)||Q4 FY 2014||Q3 FY 2015||Q4 FY 2015|
*CAD exchange rate from Bank of Canada
|(Unit: Million USD)||Q4 FY 2014||Q3 FY 2015||Q4 FY 2015|
|(Unit: Million EUR)||Q4 FY 2014||Q3 FY 2015||Q4 FY 2015|
|Q4 FY 2014||Q3 FY 2015||Q4 FY 2015|
|CAD / KRW||799.8||827.36||862.98|
|USD / KRW||1,095.80||1,133.50||1,158.15|
|EUR / KRW||1,242.97||1,246.17||1,268.02|
(NOTE: The above numbers are based on KRW. Average exchange rates for the given annual period, retrieved from Korea Exchange Bank.)
About Hankook Tire Canada Corp.
Headquartered in Brampton, Ontario, Hankook Tire Canada Corporation is a technology-focused, customer-oriented company that markets and distributes a complete line of high performance and ultra-high performance passenger tires, light truck and SUV tires, winter tires and medium truck and bus tires in Canada. With quality-proven products, Hankook Tire Canada is rapidly growing to become an industry leader in Canada. As the National Partner and the Official Tire of Hockey Canada, Hankook Tire Canada actively supports grassroots sports and contributes back to local communities.
Visit www.hankooktire.ca for more details.
For more information please contact:
GCI Group on behalf of Hankook Tire Canada